Saudi Arabia Cards and Payments: Opportunities and Risks to 2030
Summary
The analyst’s ‘Saudi Arabia Cards and Payments: Opportunities and Risks to 2030' report provides detailed analysis of market trends in Saudi Arabia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including debit, credit and charge cards during the review-period (2022-26e).The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2026e-30f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
The analyst’s ‘Saudi Arabia Cards and Payments: Opportunities and Risks to 2030' report provides top-level market analysis, information and insights into Saudi Arabia cards and payments industry, including:
- Current and forecast values for each market in Saudi Arabia cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cards, cash, credit transfer, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing Saudi Arabia cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of Saudi Arabia cards and payments industry.
Key Highlights
- Digital wallets are gradually gaining traction. In September 2025, Google Pay (via Google Wallet) launched in Saudi Arabia, in partnership with SAMA and the national payment network mada. The solution allows users to add and manage their mada cards and credit cards securely through the Google Wallet app. The solution allows users to make contactless in-store Tap to Pay payments. Users can store card details for future payments by scanning the front of the card using the app or by entering the card information manually. Banks that support Google Pay are Al Rajhi Bank and Riyad Bank.
- In January 2025, SAMA approved STC Bank to operate as a digital bank in Saudi Arabia, moving it from a digital wallet and payments model into a fully licensed banking framework. This approval allows the institution to provide a broader set of regulated banking services under SAMA oversight, consistent with Saudi Vision 2030, to advance digital transformation and expanding digital financial services. STC Bank offers online financial services, including account opening and debit and credit cards for both retail and business consumers.
- Cross-border payments are playing an increasingly important role in Saudi Arabia’s payments landscape. In September 2025, SAMA-in partnership with Ant International’s unified wallet gateway-enabled mada POS terminals to accept Alipay+ network payments by 2026. This allows international visitors and tourists to pay at local merchants in Saudi Arabia using their global digital wallets. The customer scans the merchant’s QR code or taps at the terminal, selects their domestic wallet, and the payment is processed through the Alipay+ network. The system automatically converts the currency and settles the transaction in Saudi riyal, eliminating the need for cash or international cards.
Scope
- Card market size in terms of number of cards, value and volume of transactions in Saudi Arabia along with detailed card segmentation of debit, credit and charge cards available in the country.
- Market sizing and analysis of major payment instruments including cards, cash, credit transfer, direct debits and cheques.
- Payment market trends and growth for both historical and forecast period
- Competitor analysis with detailed insights into leading card issuers and schemes.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to Saudi Arabia cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Saudi Arabia cards and payments industry.
- Assess the competitive dynamics in Saudi Arabia cards and payments industry.
- Gain insights into marketing strategies used for various card types in Saudi Arabia.
- Gain insights into key regulations governing Saudi Arabia cards and payments industry.
Table of Contents
1. Executive Summary2. Market Overview
3. Macroeconomics, Regulation, and Infrastructure
4. Payment Instruments
5. Card-Based Payments
6. Instant Payments
7. Digital Wallet Payments
8. Buy Now Pay Later
9. Retail Payments
10. In-Store Payments
11. Ecommerce Payments
12. Bill Payments
13. P2P and Remittances
14. Appendix
List of Tables
- Key facts, 2026
- Payment instrument transaction values (LCU), 2022-2030f
- Payment instrument transaction values ($), 2022-2030f
- Payment instrument transaction volumes (units), 2022-2030f
- Payment cards in circulation by type (units), 2022-2030f
- Volume of payment card transactions (units), 2022-2030f
- Value of payment card transactions (LCU), 2022-2030f
- Value of payment card transactions ($), 2022-2030f
- Debit cards in circulation (units), 2022-2030f
- Debit card transaction volumes, 2022-2030f
- Debit card transaction values (LCU), 2022-2030f
- Debit card transaction values ($), 2022-2030f
- Debit cards in circulation by scheme (units), 2022-26e
- Debit card transaction values by scheme (LCU), 2022-26e
- Debit card transaction values by scheme ($), 2022-26e
- Debit cards in circulation by issuer (units), 2022-26e
- Debit cards transaction value by issuer (LCU), 2022-26e
- Debit cards transaction value by issuer ($), 2022-26e
- Credit and charge cards in circulation (Units), 2022-2030f
- Credit and charge card transaction volumes, 2022-2030f
- Credit and charge card transaction values (units), 2022-2030f
- Credit and charge card transaction values ($), 2022-2030f
- Credit and charge cards in circulation by scheme (units), 2022-26e
- Credit and charge card transaction values by scheme (LCU), 2022-26e
- Credit and charge card transaction values by scheme ($), 2022-26e
- Credit and charge cards in circulation by issuer (units), 2022-26e
- Credit and charge cards transaction value by issuer (LCU), 2022-26e
- Credit and charge cards transaction value by issuer ($), 2022-26e
- Credit card in circulation (units), 2022-2030f
- Credit card transaction volumes, 2022-2030f
- Credit card transaction values (LCU), 2022-2030f
- Credit card transaction values ($), 2022-2030f
- Credit card in circulation by scheme (units), 2022-26e
- Credit card transaction values by scheme (LCU), 2022-26e
- Credit card transaction values by scheme ($), 2022-26e
- Charge card in circulation (units), 2022-2030f
- Charge card transaction volumes, 2022-2030f
- Charge card transaction values (LCU), 2022-2030f
- Charge card transaction values ($), 2022-2030f
- Charge card in circulation by scheme (units), 2022-26e
- Charge card transaction values by scheme (LCU), 2022-26e
- Charge card transaction values by scheme ($), 2022-26e
- Prepaid cards in circulation (units), 2022-2030f
- Prepaid card transaction values (LCU), 2022-2030f
- Prepaid card transaction values ($), 2022-2030f
- Prepaid card transaction volumes (units), 2022-2030f
- Retail market by product categories (LCU), 2022-2030f
- Retail market by product categories ($), 2022-2030f
- Card penetration per inhabitant
- Average number of monthly card transactions
- POS terminals per 1,000 inhabitants
- Inflation rate
- GDP growth rate
- Unemployment rate
- Average annual wages
- Total population
- Banked population
- Internet penetration
- Cell phone penetration
- Number of ATMs and ATMs per 1 million inhabitants
- Number of POS terminals and POS terminals per 1 million inhabitants
- Payment istrument transaction volume (paper-based vs electronic payments)
- Payment instruments transaction value
- Paymnt instruments transaction volume
- Cross-border payment value
- Cross-border payment Volume
- Payment cards number of cards in circulation
- Payment cards card penetration per individual, by card type
- Payment cards value of card transactions
- Payment cards volume of card transactions
- Payments card value physical POS vs. remote
- Payments card volume physical POS vs. remote
- Payments value domestic vs. cross-border
- Payments volume domestic vs. cross-border
- Debit card share of transaction value
- Credit and charge card share of transaction value
- Debit card frequency of payments and average transaction value
- Debit card ATM withdrawals frequency of use and average transaction value
- Debit card schemes transaction value
- Debit card schemes transaction volume
- Debit card schemes market share in terms of transaction value
- Debit card issuers by number of cards
- Debit card issuers by transaction value share
- Credit and charge card frequency of payments and average transaction value
- Credit and charge card ATM withdrawals frequency of use and average transaction value
- Credit and charge card schemes transaction value
- Credit and charge card schemes transaction volume
- Credit and charge card schemes market share in terms of transaction value
- Credit and charge card issuers by number of cards
- Credit and charge card issuers by transaction value share
- Credit card balances outstanding
- Credit card balances outstanding repayment schedule
- Number of prepaid cards, value and volume
- Prepaid card usage drivers
- Instant payments transaction value
- Instant payments transaction volume
- Digital wallet transaction value
- Digital wallet transaction volume
- Mobile Proximity Payments usage drivers
- Mobile Proximity Payments funding methods
- BNPL online transaction value and transaction volume
- BNPL share of overall ecommerce transaction value
- Preferred BNPL brand/tool for in-store and online payments
- Retail sales
- In-store transaction value by payment method
- In-store payment tool usage drivers
- In-store transaction value by products and services
- Ecommerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
- Ecommerce market by product and services
- Ecommerce market by payment tools
- Online payment tool usage drivers
- Bill Payments - Breakdown by payment tools
- Bill Payments- Frequency of bill payments
- P2P Payments - Domestic and International P2P money transfers and top priorities for P2P tools
- Value of inward and outward remittances
- Top 10 countries for inward and onward remittances
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Saudi Central Bank (SAMA)
- Al Rajhi Bank
- Saudi National Bank
- Riyad Bank
- Arab National Bank
- Alinma Bank
- Saudi Awwal Bank
- Bank Albilad
- Saudi Investment Bank
- Bank AlJazira
- Banque Saudi Fransi
- mada
- Visa
- Mastercard
- American Express
